By d-mars.com News Provider
As Comerica Bank’s Chief Community Officer, Irvin Ashford, Jr. leads community reinvestment nationally and all associated activities, including development, diversity business resource groups, lending, community investments, volunteerism, and data analysis. Since joining Comerica in 2000, Irvin continues to drive the company’s community efforts forward to better the BIPOC and business community.
There have been many successful efforts implemented under Irvin’s direction that include:
- Increased funding for Community Development Financial Institutions (CDFIs) to meet the needs of small and micro businesses in low- to moderate-income communities adversely impacted by the pandemic.
- Committing $5 billion to small business lending over the next two years (three-year commitment).
- Expanding Comerica’s business development program into the Asian American-Pacific Islander, Middle Eastern American, and African-American communities with newly named national managers focused to serve these respective communities’ needs.
Q&A With Irvin Ashford, Jr.:
What led to your interest in the banking industry/finance? Finances and money are the economic lifelines that help businesses, communities, and ecosystems grow and thrive. The historical inequities in the financial system made me want to be part of the change. Access to financial education has been a true barrier to economic freedom. My passion and contribution to creating a beloved community are empowering youth and adults to become good financial stewards. So, I have dedicated my career to equipping more people with the essential skills needed to make sound financial decisions and navigate the increasingly complex financial world.
How are you leading Comerica’s efforts as a partner with Project Still I Rise, Inc.? I am a longtime volunteer with PSIR. I’ve mentored young men, taught when called upon, and acted as a role model when necessary. I am available for whatever the group needs me to do. Mainly, I let the young men know I care and hold them accountable. For more than a decade Comerica has partnered with Project Still I Rise, a local nonprofit organization, to help empower today’s youth through financial education, including various STEM camps and events, the award-winning Gift of Knowledge program, and most recently Bank for Babies in partnership with South Dallas-area Headstarts. Research shows that there is a direct correlation between young people who are introduced to basic financial principles and taught how to manage their money at an early age and their future success.
Comerica Bank is a true community partner to so many groups and organizations, but for those wanting Comerica as a community partner, what are some of the requirements they should have to be considered? There are many avenues to partnership — volunteerism, support, board participation, and programs including but, not limited to: Comerica Business $ense boot camps, Ask the Banker sessions, Comerica Money $ense curriculum for youth organizations and schools. We look for partners who help us raise expectations.
In your experience, what truly makes community and economic development initiatives effective for diverse and underserved communities? Listening to the needs of the community and creating win-win opportunities for success. Simply, meeting people and communities where they are. At Comerica, we identify outlets to reach and teach the communities we serve. We are most effective when we strategically align with community-based organizations that are already doing the work.
What are your short- and long-term goals as Chief Community Officer? To make as many resources and programs available for the community as possible.
What legacy do you hope to leave in the finance/banking industry? I want to raise the communities’ expectations of how they think Comerica can serve them while helping more individuals, families, and small businesses be successful.
Are there any special awards/honors you recently received that you want to mention? Although humbled by any individual awards, I pay more attention to the group awards the company has achieved over the past year:
- Newsweek’s 2022 list of America’s Most Responsible Companies
- 2021 Texas Bankers Foundation Leaders in Financial Education Award Winner
- 2021 The Civic 50 by Points of Light Honoree, One of the 50 Most Community-Minded Companies in the U.S. for Six Consecutive Years
“Comerica wants to do business with all communities where we live and serve. The challenges created by the pandemic will not be resolved overnight, that is why it is important for us to provide both financial and human capital to lend a hand and show that together we can continue to move forward,” says Irvin. For more information about Comerica Bank’s initiatives to reinvest in our BIPOC and business community, please visit www.comerica.com.
